Legal Question in Real Estate Law in India
I have registered an agreement to sell for selling my flat. The purchaser have given me 35% of the consideration amt. Now the purchaser is pressurizing me to register a sale deed and handover all original documents of my flat. After that his home loan bank will release the rest consideration. Should I take the risk for doing it.
2 Answers from Attorneys
no never!! the bank releases the loan before the registry of the property. You will get conned.
20.04.2014
Dear Sir / Madam,
NO. You should tell the seller that all the original property documents will only be handed over after the entire purchase consideration is received and settled and not before. The Purchaser can easily tell the bank to give you the draft of the balance 65% in exchange for the original property documents.
Regards,
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